A Nevada payday loan bond is a type of surety bond required by the Nevada Financial Institutions Division (FID) for businesses that offer payday loans in the state. The bond is designed to protect consumers from financial
harm in the event that the business fails to comply with state regulations or engages in fraudulent activity. The full name of the required license is Deferred Deposit Loans, High-Interest Loans, Title Loans and Check Cashing Services license. while required by the FID, the license and bond is administered by the Nationwide Mortgage Licensing System (NMLS)
The amount of the bond is $50,000 for the first location and an additional $5,000 for each branch location. The cost of the surety bond is usually between 1% and 3% of the bond amount. Surety1 will shop its many markets to procure the right price at the right terms.
How to Get a Nevada Payday Loan Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the Nevada payday loan bond will be Uploaded to the NMLS.
1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.
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How to get a Payday Loan License
To get a Deferred Deposit Loans, High-Interest Loans, Title Loans and Check Cashing Services license, visit the NMLS License Check List. This list provides a detailed explanation on the licensing process, the forms that must be submitted and the license requirements.
How to Get Your Nevada Payday Loan Bond
- Complete an online application. It’s free and no-obligation.
- One of our surety experts will contact you with a firm quote and an agreement to sign.
- Provide payment and your signed agreement, and then you will receive your Surety Bond!
If you have any questions, please call us at 877-654-2327.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.